Hello sir

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This query is : Resolved

Guest

Guest (Querist)

11 February 2012 gud morning experts,
can u tell me this. that my father have 2 buses hired by fectory for his worker.than sir our gross turn over above 25 lakh . than sir can u plz tell me that

can i show my income as presumtive bases.
what will better for me.if i will show my income as presumtive for this what will i do

Regards
Rajiv

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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11 February 2012 You have to multiply the turnover from buses, so that the case of your father will come under the Tax Audit provisions.
.

You have to multiply the turnover of Rs 2500000 by 8 to show income on presumptive basis. Yes you can show income U/s 44AD.

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